You've Been Downsized, Goodbye!

AOL is planning on eliminating 20% of their global workforce of about 10,000 employees over the next few months. In an e-mail to investors, AOL President Randy Falco thanked the outgoing staff for their tireless efforts in help AOL transition from an ISP to an ad-supported e-company.

The reduced workforce could either be a result of success or troubles ahead. Here's a little snip of what Falco wrote in his e-mail:

"So where is this taking AOL? Put simply, my vision for AOL is to build the largest and most sophisticated global advertising network while we grow the size and engagement of our worldwide audience," Falco writes. "We're only a year and a month into our transformation, and the turnaround has been dramatic. We're now in a position to win as an advertising-supported business. We have a bright future as a company if we can execute on this vision."